lapse

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Related to lapsing: call on, so far, brought out, took over

lapse

Health insurance Termination of coverage due to nonpayment within a specified time period
References in periodicals archive ?
It is worth noting, however, that lapsing could be occasionally optimal in a financial model that allows for stochastic interest rates and/or volatility.
In fact, the independence is an unrealistic assumption because an informed policyholder will consider the value of the guarantee when deciding to lapse: if the account value will be low, the policyholder will not tend to lapse and, on the contrary, will consider the benefits of lapsing and buying a comparable policy again if his account value willbe high.
* Premiums paid by the policyholder have become unaffordable and the policy is in danger of lapsing;
Thus, it appears that lapsing of an otherwise nonlapse restriction in the event of a highly speculative IPO would not be a compensatory cancellation creating a taxable event.
Long-term health insurance contracts provide policyholders with the option of lapsing coverage or switching to another tariff within the same insurance company.
If you have travelled abroad to participate in an armed conflict or the like, you can apply for dispensation to prevent your residence permit from lapsing. Applications for dispensation must be submitted to the Immigration Service.